Michigan Predicts Over $18 Million in Medical Marijuana Tax Revenue This Year

The governmental green rush is on in Michigan. The state’s Bureau of Marijuana Regulation has announced that its nascent medical marijuana program sold $30.2 million of medical product in the first four months of operation. That should equal some $1.8 million in sales taxes, and $112,800 in excise tax paid to the state. Medical marijuana license fees for businesses have brought in an additional $11.9 million.

Cash flow has been so good, in fact, that authorities are weighing the reduction of fees associated with getting a medical marijuana card, since the entire amount they have been collecting isn’t necessary to operate the program. The Department of Licensing and Regulatory Affairs announced that application fees from the last three years are generating 90 to 100 percent more revenues than the program’s operating expenses.

As such, a part of the money generated from marijuana is currently going to fund other types of governmental programs and positions, including the attorney general and state police, addition treatment and prevention facilities, sobriety tests, and the Michigan Commission on Law Enforcement Standards.

Voters put their stamp of approval on legalization back in November in the state. Marijuana dispensaries have been hawking cannabis in the state since